FinArch signs Aldermore Bank

London and Ghent, Belgium - 11 October 2011

FinArch, a global software provider of integrated finance, risk and compliance solutions announced today that Aldermore Bank has selected Financial Studio to meet the Bank of England and FSA compliance requirements.

The proven fast track delivery of UK regulatory reporting within the strategic FRP framework as well as the scalability and modular approach of FinArch’s software made Financial Studio the obvious choice for Aldermore Bank. The bank requested a platform that could support their growing business not just for regulatory reporting but also for risk and finance functions in the future. The lower total cost of ownership (TCO) and flexible end user experience of FinArch’s Microsoft technology architecture further convinced the bank to adopt Financial Studio for their local regulatory reporting needs.

"With Financial Studio we have a robust yet flexible and reliable reporting system that is easy to deploy and maintain," says Alan Barnard, Head of Management Information Systems at Aldermore. "This gives us one platform to consolidate the typically disparate systems landscape to manage our future compliance, finance and risk needs. We look forward to benefiting from the entire Financial Studio suite as we grow."

"Our flexible approach to Aldermore’s needs proved to be decisive, and will enable them to remain focused on their core activities. We will continue to work in partnership with this growing British bank to deploy Financial Studio in line with its strategy for consolidating Regulatory Reporting, Liquidity Risk, ALM and Finance on to a single platform.” says Paul Newton, VP Business Development."FinArch’s integrated risk and finance approach is very well received by financial institutions worldwide as our value add allows us to help our customers increase efficiencies, reduce operational costs and mitigate risk, all crucial items today. Our continuous investment in Financial Studio including new modules for Basel III and P&L Management… will support Aldermore Bank and our other clients in staying ahead of the curve in the future.”

“We are thrilled to see banks increasingly deploy mission-critical solutions on the Microsoft platform,” comments Joseph Pagano, Managing Director for Banking and Capital Markets at Microsoft Corporation. “FinArch’s Financial Studio on Windows Server and SQL Server allows banking customers to take advantage of a flexible platform with the performance, scale, and stability they require and a total cost of ownership that helps banks meet their operational efficiency and cost to income ratio targets."

FinArch’s Financial Studio Compliance solution enables banks and financial institutions to meet regulatory demands for stricter compliance, while gaining additional business benefits by improving reporting flows, improving return on IT investment, and turning compliance into a cost-saving exercise. The Financial Studio Compliance module offers standard and certified regulatory reporting functions, based on pre-defined reporting templates. It can be used as an integrated part of any Financial Studio solution or as a stand-alone module, meeting all compliance requirements for financial reporting in these key areas: Regulatory reporting, Basel II & III compliance reporting, IFRS compliance reporting, Liquidity risk compliance reporting...

Financial Studio Compliance is integrated in FinArch’s Financial Studio FRP platform, the first fully integrated Finance Resource Planning (FRP) solution for banking and financial institutions. Financial Studio’s ‘out-of-the-box’ functionality, with its highly customisable modules and scalable database, allows for rapid deployment of any sized project, from small local implementations to full-scale enterprise-wide solutions on a global basis. A suite of generic, or foundation, modules underpin the power and security of the Financial Studio FRP solution. These include an industry standard data model, highly flexible multi-dimensional reporting hierarchies, powerful archiving tools, audit trail and historical information management, and rule-based engines.

Financial Studio is the vendor of choice for many global financial institutions that address their ever changing and challenging regulatory requirements as well as the enterprise wide risk and finance management challenges. Financial Studio counts amongst its client base numerous financial institutions worldwide, including 7 out of the top 10 biggest banks (in assets) in the world.

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